NASDAQ$OPK

OPKO Health Inc · Q2 2022 earnings

Q2 2022 earnings · · Investor relations

Briefing

OPKO Health's financial performance declined due to lower COVID-19 testing volume and non-cash expenses related to a decrease in Sema4’s stock price.

OPKO Health reported a decrease in consolidated total revenues, driven by lower COVID-19 testing volume and a decrease in revenue from services. The company experienced an operating loss, and net loss was significantly impacted by a non-cash expense related to a decrease in Sema4's stock price.

  • Acquired ModeX Therapeutics, gaining proprietary immunotherapy technology and new executives.
  • Pfizer launched NGENLA® in Germany, Japan, and other global markets, resulting in $85 million in milestone payments to OPKO.
  • Completed the sale of GeneDx LLC to Sema4 Holdings Corp.
  • BioReference Laboratories' Scarlet Health® collaborated with Teladoc Health to offer in-home phlebotomy services.

Headline financials

Total Revenue

$310M

Previous: $442M-30.0%
EPS (adj)

-$0.14

Previous: -$0.01-1300.0%
Free Cash Flow

-$102M

Previous: -$16.2M-528.0%
Net Income

-$102M

Previous: -$16.2M-528.0%
Operating Income

-$10.7M

Previous: $5.57M-292.8%
Gross Profit

-$300K

Previous: $2.08M-114.4%
Cash & Equivalents

$210M

Previous: $65.8M+220.1%
Total Assets

$2.37B

Previous: $2.42B-2.1%
Stock-Based Comp

$4.31M

Previous: $3.46M+24.5%

Revenue & EPS history

OPKO Health · Revenue · Quarterly

$310M

Q2 2022-30%vs Q2 2021
Beat estimate in 7 of 15 quarters(47%)
ActualEstimate

Revenue by segment

OPKO Health · $398M total across 2 segments · Q4 2021

  • Services
    $363M
  • Products
    $35.3M

Forward guidance

The press release contains forward-looking statements regarding expected financial performance, market expectations, product sales, and the impact of acquisitions and partnerships. These statements are subject to various risks and uncertainties that could cause actual results to differ materially.

Tailwinds

  • Expected financial performance
  • Market expectations
  • Product sales
  • Impact of acquisitions
  • Partnerships

Headwinds

  • Down turns
  • Changing regulatory landscape in the highly competitive healthcare industry
  • Ability to get beneficial pricing approvals
  • Manufacturing issues that may arise
  • Patent positions and litigation

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2022

Historical avgQ2 2022

-0.7%

Avg return

Earnings day

+0.3%

Avg return

5 days after

-0.2%

Avg return

30 days after

44%

27 / 61 earnings

Positive

+26.8%

Q1 2018

Best reaction

-17.7%

Q3 2017

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.8%-8.3%+19.2%
Q4 2025+2.5%+0.0%-6.7%
Q3 2025-2.9%-4.3%-2.9%
Q1 2025-2.2%-7.2%-1.4%
Q4 2024+6.7%+19.0%+4.3%
Q3 2024+3.4%+9.5%+8.2%
Q2 2024+6.7%+11.9%+16.4%
Q1 2024-5.3%-3.0%+1.5%
Q4 2023-1.1%-1.0%+20.0%
Q3 2023-0.7%-6.7%+18.5%
Q2 2023+13.1%+6.8%+2.8%
Q1 2023+15.0%+26.5%-1.4%
Q4 2022+0.0%+7.5%+22.6%
Q3 2022-14.8%-9.3%-25.8%
Q2 2022-6.6%+2.9%-12.7%
Q1 2022+11.8%+15.6%+8.4%
Q4 2021+7.4%+3.7%+17.8%
Q3 2021+5.9%+16.2%+15.4%
Q2 2021-11.6%-7.2%-0.8%
Q1 2021-3.7%-4.2%-10.5%
Q4 2020-13.6%-18.0%-12.9%
Q3 2020-12.0%-11.0%+3.3%
Q2 2020-11.1%-7.4%-42.3%
Q1 2020-15.2%+3.9%+2.2%
Q4 2019+3.6%+12.2%+0.7%
Q3 2019-2.0%-2.6%+5.3%
Q2 2019-2.1%-6.2%-4.6%
Q1 2019-16.1%-14.9%-22.1%
Q4 2018-9.9%-5.7%-7.8%
Q3 2018+6.7%-7.4%-6.0%
Q2 2018-0.4%-1.6%+1.5%
Q1 2018+26.8%+37.8%+23.5%
Q4 2017-0.6%+0.9%-6.5%
Q3 2017-17.7%-20.1%-20.2%
Q2 2017+1.7%-1.3%-1.6%
Q1 2017-3.4%-0.8%-13.7%
Q4 2016-11.5%-9.3%-4.6%
Q3 2016-6.6%-3.4%+11.8%
Q2 2016+0.3%-0.5%-5.1%
Q1 2016+6.7%
Q4 2015+0.4%
Q3 2015+7.6%
Q2 2015-13.7%
Q1 2015+4.8%
Q4 2014-2.7%
Q3 2014+2.5%
Q2 2014-4.0%
Q1 2014+8.4%
Q4 2013-0.6%
Q3 2013-1.4%
Q2 2013+3.7%
Q1 2013+3.4%
Q4 2011-4.0%
Q1 2011+1.3%
Q1 2012+2.7%
Q4 2009-2.6%
Q3 2011-2.3%
Q2 2011-3.3%
Q4 2010-3.3%
Q3 2010+0.7%
Q1 2010+9.1%

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